The tractor sales have started showing improvement after the government's decision to reduce General Sales Tax (GST) from 16 percent to 5 percent this month, Senior Federal Minister for Industries and Production, Chaudhry Pervaiz Elahi said here on Tuesday.
Elahi who is also a senior leader of PML (Q) was talking to a farmers delegation, which had called on him at his residence to thank him for taking personal interest in reducing the GST on agriculture implements that had stalled the tractor sales for ten months. The members of the delegation said that they have full confidence in Ch. Pervaiz Elahi's leadership for adopting growers' friendly policies and providing subsidy of billions of rupees.
Elahi said the government has reduced the GST on tractor industry from 16 percent to 5 percent to bring tractors prices within purchasing reach of small land-holders who are more than 80 percent of the farming community. He said the government is determined to provide agri implements, and other inputs at affordable rates to the farmers and increase per acre yield of the commodities.
Elahi said it is heartening to know that the Zarai Taraqiati Bank Limited (ZTBL) has also started advancing loans to the small farmers for purchase of tractors, as decrease in GST has brought prices of tractors down (by Rs 60,000 to Rs 90,000), which would boost the sales of tractors, revenues of the government and agriculture production.
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